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Multi touch attribution marketing12/8/2023 It’s a cornerstone of modern marketing analytics, but it can be difficult to get right. Author: Enrique Munoz de Cote Marketing attribution is the process of determining the value of each channel, campaign and piece of content by correctly assessing their contribution to an eventual conversion. A marketing team capable of gaining a clear understanding about the channels positively impacting customer journeys ending in conversions can more effectively allocate funds, gain valuable insights about the customer and optimize their experience. The marketers’ goal is to understand where to allocate your marketing budget. To do this, they need to identify touchpoints the customer came in contact with that resulted in a conversion. In today’s digital world, marketers are constantly looking for ways to optimize their campaigns and gain a competitive advantage. On top of the factors in the list above, it’s critical to think about the other needs and goals of your brand before making an attribution model decision.A customer’s journey spans several devices and touchpoints before resulting in a sale. Every brand is unique, so attribution models are unique too. Your answers and subsequent results may look a little different. Of course, this plan is unique to this specific sample company. This particular brand may want to choose a single source attribution model, such as first-touch or last-touch, because they won’t need to worry as much about the limited touchpoints within their customers’ paths to purchase they’re only focusing on a conversion-related goal, and they’re using a more direct channel. The goal of the campaign is to drive sales. The company is only leveraging one channel-email-and their creative assets on that channel are pretty simple. Their sales cycle is very short and customer touchpoints are relatively condensed. Say a shoe company is hoping to learn more about their customers’ behaviors after their recent email marketing campaign. Let’s explore an example of how answers to these questions may impact a business’s attribution model choice. It can reveal information that enables you to optimize marketing spend, and it can help improve remarketing efforts and relevance for audiences. One of the other most crucial aspects of marketing attribution is its ability to improve your ROI. For example, some analytical tools can consider device type, order of exposure, and type of asset when analyzing marketing touchpoints. The ability of analytical tools to pull factors from various sources means the learnings from this attribution paint the full picture of your marketing performance and audience behaviors. The diverse nature of this information and the quantity of potential touchpoints makes marketing attribution even more important. These learnings will help enable you to make smarter, more efficient updates to your marketing team’s tactics and drive more optimization for your business. That’s where marketing attribution comes in-it helps automate the evaluation process to ensure that you’re getting the most relevant and accurate metrics and KPIs possible. But unsurprisingly, the sheer amount of reporting available can feel overwhelming. With so many marketing touchpoints to consider and an increasingly complex customer journey, it’s crucial that brands take a step back to review where they stand and how they may be able to optimize. It helps ensure that every single past interaction is accounted for and considered when making future decisions. Analyzing your current marketing objectives and taking subsequent marketing actions can create a ripple effect for your brand’s strategy. When it comes to marketing, knowledge is power-the more you can learn about your past results, the better you can plan your future tactics. Either way, marketing funnel and customer journey modeling are incredibly important to return on investment (ROI), future strategy planning, and more. Using these models can be as simple as analyzing one touchpoint and as complex as considering the intersections of multiple touchpoints across the path to purchase. Marketing tactics and corresponding customer touchpoints can range from social media channels to emails to paid search-and every digital marketing interaction in between. This attribution can be achieved through solutions like Amazon Ad Server that serve as catalysts to measure and analyze these touchpoints along the customer journey. The models consider various touchpoints in the marketing funnel and their impact on consumer behavior and conversions. These marketing metrics are used to identify the channels and messages that inspire potential buyers to take action. Marketing attribution is the way advertisers determine how marketing tactics-and subsequent customer interactions-contributed to sales, conversions, or other goals.
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